Consumers Are Demanding More From Cannabis Companies — Here's What Some Are Looking For

The cannabis industry has undergone drastic changes in recent years, and as marijuana becomes more mainstream, consumers are demanding more from cannabis companies. No longer are the days when consumers will settle for a plastic zip lock bag of questionable quality and purity underground weed — they want choices that reflect their lifestyle and values. 

Many consumers report that they want a high-quality lifestyle brand and one of the things they are looking for is an organic, hand-cut, pesticide-free, and easy-to-consume cannabis product. Companies that embody these values will be better positioned to become the go-to products for more consumers. 

Why Do Consumers Want Lifestyle Brands?

A growing percentage of consumers care more about the quality and sustainability of the brands they engage with. In a recent survey by Stifel and Morning Consult, more than half of the survey’s respondents shared they had bought from a new brand specifically for its transparent, environmentally responsive, and sustainable practice. 

When it comes to the cannabis industry, there is a preference for hand-trimmed and hand-grown cannabis. Colloquially known as craft cannabis, companies willing to prioritize hand-trimmed cannabis grown without pesticides and machines will have an easier task of creating high-end products that consumers flock to.

Cannabis companies would be wise to look to the lifestyle brand journey of other consumer packaged goods (CPG). Researchers see lots of comparisons between the growth of lifestyle brands in high-end coffee companies and the cannabis industry. Similarly to how high-end coffee consumers are more loyal to brands that boost sustainable heritage, product origins, ethical sourcing, and roasts, a growing number of cannabis consumers are following suit. California is in the process of implementing a product origin program similar to the California wine industry for cannabis.

Companies that can leverage a consumer-centric approach to the cannabis industry might find success in the coming years as luxury cannabis becomes more available and accessible to the public. 

What Companies Are Doing It Right?

LiveWire Ergogenics Inc. LVVV (“LiveWire”) is a company that focuses on acquiring and managing special-purpose real estate properties that qualify for the discovery and development of high-end organic cannabis products. Because of this focus on selecting compliant real estate, LiveWire can hone in on projects that allow for high-end cultivation and set the Company apart from the competition, especially from mass producers of low-quality products. 

In order to operate economically, LiveWire has developed its Estrella Ranch as the central hub for all LiveWire and subsidiary operations. The Estrella Ranch’s location is ideal for cultivating a high-end organic-style product in a micro-climate that can allow for all-year-round production. Its tractor-less operation is focused on producing high-quality, hand-crafted outdoor products. 

Additionally, the property’s ultimate goal is to be the world’s first Estate Grown Weedery, an ultimate cannabis destination. This goal aligns well with the Company’s health and wellness lifestyle value. Consumers want an experience from their lifestyle brand of choice, and LiveWire seems to be an example of a company positioning itself well to deliver.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Photo by Drew Taylor on Unsplash